Business
Petrolifera Petroleum Limited reports 2007 year end results and schedules conference call March 17, 2008, 9:00 A.M. MT
CALGARY, March 14 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) had a productive year in 2007...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, March 14 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) had a\nproductive year in 2007. It was in many ways more complicated than prior\nyears, but resulted in your company entering 2008 with more land, more\nreserves, higher production and sales and the prospect ahead of it of exciting\ndrilling activity in Colombia and Peru. As previously announced, all results\nfor 2006 mentioned herein have been restated. Certain statements contained in\nthis press release contain forward looking information. See "Forward Looking\nInformation".\n\n\nThese year end results will be subject to a Conference Call event. To\nlisten to this Conference Call please enter:\nhttp://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)2188560 in your web\nbrowser. To participate in the live conference call please dial either (416)\n644-3414 or (800) 733-7560. A replay of the event will be available from March\n17, 2008 at 11:00 a.m. MT until March 24, 2008 at 11:59 p.m. MT. To listen to\nthe replay please dial either (416) 640-1917 or (877) 289-8525 and enter the\npasscode 21264784 followed by the pound sign.\n\n\nHighlights were as follows:\n\n\n- Total revenue increased 27 percent to $134 million, compared to\n $106 million in 2006. Revenue growth was constrained by the strength\n in the Canadian dollar relative to the US dollar and the Argentinean\n peso. Petrolifera reports its financial results in Canadian dollars.\n- Cash flow from operations before working capital changes ("cash\n flow")(1) increased 37 percent to $68 million after deduction of\n current income taxes of $21 million, compared to cash flow of\n $50 million in 2006, after a current tax provision of $26 million\n last year.\n- Cash flow per share(1) increased 13 percent to $1.43 per share in\n 2007 compared to $1.27 per share in 2006; on a weighted average\n basis, there were 48 million common shares outstanding in 2007,\n compared to 39 million shares in 2006. At December 31, 2007 there\n were 50.1 million common shares outstanding ($51.6 million fully\n diluted). All per share results reported herein are per basic common\n share outstanding, calculated on a weighted average basis unless\n otherwise noted.\n- Earnings were $29 million ($0.61 per share) compared to net income in\n 2006 of $37 million ($0.95 per share).\n- Proved ("1...